Canara Bank starts gold loan business vertical

Canara Bank has started a special business vertical dedicated to gold loans. This business vertical for gold loans to meet the financial needs of its customers due to the COVID-19 pandemic. The bank has launched a gold loan campaign till 30th June 2020 with an interest rate as low as 7.85% per annum.

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The special gold loan products are designed keeping in mind the challenges faced by the customers The credit can be utilised for different purposes, such as expenses for agriculture and allied activities, business needs, health emergencies and personal needs. The loan facility can be availed of from all designated branches across the country. The loans are payable within a period of one to three years with flexible repayment options.

Important takeaways for all competitive exams:

  • Canara Bank Headquarters: Bangalore, Karnataka.
  • Canara Bank Chairman: T.N. Manoharan.
  • Canara Bank MD and CEO: L.V. Prabhakar.

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